Ive never used an Octatrack but I have used ZenAud.io. Its what you want. The problem with any loopers is the tap dancing you have to do while playing your guitar. It makes it impossible to control any but the simplest of loops. ZenAud.io (no affiliation) is software that allows you to set up your loop record and play points in advance, then you just press start and play your guitar. It can handle any VST or midi automation on the loops too. So, you could use it in conjunction with an Octatrack for the crazy stuff. But crafting a song with loops in real time with a midi foot pedal while playing an instrument is very limited. Check it out.
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